Macroeconomic Indicators

Table-1 presents Gross State Domestic Product (GSDP) at current prices for the period 2011-12 to 2022-23. GSDP is an important indicator for measuring the growth of a State economy. GSDP is a measure in monetary terms, the value of all finished goods and services produced during a year within the geographical boundaries of a State without duplication. GSDP represents the value added by production and services sectors. This means that the value of inputs is netted out while estimating the GSDP. Table-2 presents annual growth rates of GSDP.

GSDP at current prices is not an accurate indicator of the economic growth of the State as an increase in prices of products and services will result in increase in the size of the GSDP and its growth rates. A realistic indicator of the growth of the economy is the GSDP and its growth at constant prices. The GSDP data at constant prices presented in Table-3 and its annual growth rates in Table-4 are based on 2011-12 prices.

Table-5 presents information relating to Gross Value Added by the different sectors of the economy. Gross Value Added is the same as GSDP. Table-6 presents per capita Net State Domestic Product (NSDP). NSDP is arrived at by subtracting consumption of fixed capital from the Gross Value Added. NSDP is divided by the mid-year estimated population of a State to arrive at the per capita income. This is an important indicator of the development of a State and the standard of living of its people. This indicator is used to assess the economic performance of different States and categorizing them into high-income, middle-income and low-income States. The annual growth rates of per capita income at current prices are presented in Table-7. Tables-8 and 9 present per capita income of States at constant prices and their annual growth rates.